A promoter entity of Ajanta Pharma sold shares worth over Rs 1,024 crore through a block deal on Tuesday, with domestic mutual funds emerging as the buyers. According to NSE block deal data, Ravi Agrawal Trust sold 34.5 lakh shares of Ajanta Pharma at Rs 2,968 per share. The transaction was valued at about Rs 1,024 crore.

The shares were picked up by two domestic fund houses. Kotak Mahindra Mutual Fund acquired 21.02 lakh shares, while Aditya Birla Sun Life Mutual Fund purchased 13.48 lakh shares. Both transactions were executed at the same price of Rs 2,968 per share.

Ajanta Pharma is a specialty pharmaceutical company with a presence across branded generics, emerging markets and select developed markets. The company has built a strong franchise in therapeutic segments such as ophthalmology, cardiology, dermatology and pain management, while also expanding its footprint in international markets.

The company has been one of the stronger performers in the pharmaceutical space, benefiting from steady earnings growth, healthy margins and a robust balance sheet. Investors have also favoured the stock due to its focus on branded formulations and relatively limited exposure to pricing pressures in the US generics market.

Ajanta Pharma reported good fourth quarter results, with revenue and EBITDA coming in 1-3%, ahead of analysts estimates. PAT was 23% higher than the views, helped by higher Other income and a lower tax rate. US generics business sustained robust growth momentum, up 47% YoY in USD terms

“We raise our FY27E-FY28E core earnings estimates by 2%. AJP trades at 31.2x FY27E core P/E. We retain our target price at Rs 3,115 based on 29.9x FY28E core P/E plus cash per share. We retain our Accumulate rating. Geopolitical disruptions to the business and a spike in raw materials price & freight cost are key risks to our call. We introduce FY29 estimates,” Elara Capital said post the earnings.

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Over the past 30 years, the S&P 500 index has generated a total return of 1,770% (as of June 5). That performance supports the view that the stock market is one of the best asset classes for growing your wealth. A starting sum of $10,000 in this benchmark in June 1996 would be worth $187,000 today. The gains have been even more remarkable over the past decade.

Understanding that this kind of performance can have a profound impact on your financial well-being, it might be time for new investors to direct some of their savings into the stock market. Given how daunting it might seem, it can be difficult to figure out where to even begin.

Here’s where Warren Buffett comes into the picture. The great investor is also a wonderful educator whose advice is well worth considering. If you’re new to the stock market this month, listen to the Oracle of Omaha’s suggestion.

WARREN BUFFETT ERA ENDS AFTER 60 YEARS AS CEO WITH GREG ABEL TAKING OVER

Keep it simple

Buffett is known for his exceptional capital allocation skills, having compounded Berkshire Hathaway’s share price at a yearly clip of almost 20% for six decades before stepping down as CEO at the end of last year. But his advice for most investors is surprisingly simple. He basically recommends buying a low-cost S&P 500 index fund.

This perspective probably comes from the fact that the average person doesn’t have the time, ability or desire to want to pick individual stocks and manage a portfolio. And it stems from the inability of expert fund managers to beat the market.

THIS SECTOR HAS DOMINATED ETF RETURNS SO FAR IN 2026

Active management strategies generally have a bad track record. Data shows that the vast majority of large-cap fund managers lose to the S&P 500 over the long term. Whether these professionals trade too often, charge high fees or just aren’t adept portfolio managers, that is a very disappointing statistic. And it makes you wonder why more investors don’t choose the passive route.

Consider this popular exchange-traded fund

One of the best options is the Vanguard S&P 500 ETF. It comes with an extremely low expense ratio of 0.03%. Over several years and decades, investors will pay a significantly smaller amount than what active managers typically charge. The difference leaves more money in your pocket.

Ticker	Security	Last	Change	Change %
VOO	VANGUARD S&P 500 ETF – USD DIS	679.68	+1.68	+0.25%

This ETF tracks the S&P 500 index, so its holdings match the benchmark. The top five holdings are Nvidia, Apple, Microsoft, Amazon and Alphabet, clearly showing a strong position within the information technology sector. Investors will certainly be exposed to all things related to artificial intelligence.

However, it’s worth pointing out that this ETF contains all sectors of the economy. It’s essentially a hassle-free method for gaining broad market exposure.

Maintain a long-term perspective

The S&P 500 index today trades at a historically expensive valuation, calling into question the benchmark’s return potential. While the phenomenal trailing 10-year total return of 316% might not repeat, I think it still makes sense to invest in the stock market.

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Profit growth and margins are robust. And the companies leading the charge, some of which were mentioned already, are some of the most dominant businesses the world has ever seen, so they deserve the market’s appreciation.

Ticker	Security	Last	Change	Change %
NVDA	NVIDIA CORP.	208.64	+3.54	+1.73%
AAPL	APPLE INC.	301.54	-5.80	-1.89%
MSFT	MICROSOFT CORP.	411.74	-4.93	-1.18%
AMZN	AMAZON.COM INC.	245.22	-0.81	-0.33%
GOOGL	ALPHABET INC.	363.31	-5.00	-1.36%

If the current valuation is a real concern for you, then consider adopting a dollar-cost averaging (DCA) strategy. By doing so, you could allocate fresh savings to the market on a monthly or quarterly basis, virtually eliminating the need to accurately assess what the correct starting valuation should be.

And even adding small sums of money to a DCA approach can lead to tremendous long-term results. Let’s say you initially invest $10,000 into the Vanguard S&P 500 ETF. But then every single month, you invest $100. Assuming the historical 10% annualized total return holds true, you’d have $382,000 after 30 years. Of course, if you put more money to work, the ending figure will be larger.

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Neil Patel has positions in Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, Microsoft, Nvidia and Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.

The Financial Reporting Council has launched a probe into the accountancy giant’s audit of WH Smith’s financial statements

The UK’s accountancy watchdog has launched an investigation into PwC over its auditing of WH Smith in the wake of a damaging accounting scandal in the retailer’s US division.

The Financial Reporting Council (FRC) said it had launched a probe into PwC’s audit of WH Smith’s financial statements for the year to August 31.

It did not disclose the details of the probe.

Swindon-headquartered WH Smith admitted last year it overstated profits for its North American business by as much as £50m because of issues with its audit process.

Carl Cowling resigned as WH Smith’s chief executive in November last year after an independent report by Deloitte confirmed the accounting problems, finding a number of “shortcomings” in its US audit process.

WH Smith remains under investigation by the Financial Conduct Authority (FCA) over the accounting issue. The scandal led WH Smith to warn over profits for the year to the end of August 2025, which were also delayed over the affair.

A PwC spokesperson said: “We will be fully cooperating with the FRC’s investigation.

“The delivery of high-quality audits is fundamental for the firm and we are committed to maintaining high standards.”

WH Smith told investors in December that it had kickstarted a remediation plan to strengthen its governance and controls, ensure processes are aligned across the group and enact cultural change involving training and monitoring.

And earlier this year it hired the former boss of infrastructure giant Balfour Beatty as executive chairman, with an aim to help the group “return to stability” as it recovers from the debacle.

Leo Quinn started in the role on April 7, while interim chief executive Andrew Harrison will revert to his previous role as head of the firm’s UK division.

WH Smith is now focused solely on its 1,300 shops in global travel locations, including at airports and train stations, after selling its high street chain of about 480 shops to Hobbycraft owner Modella Capital in June last year.

As part of the deal, the WH Smith name has disappeared from British high streets and has been replaced by brand TGJones.

NEW YORK — The Russell 2000 index climbed 63.30 points, or 2.22%, to close at 2,918.73 on Tuesday, underscoring continued strength in small-cap stocks as investors bet on easier monetary policy, broadening economic growth and potential benefits from artificial intelligence adoption spilling over to smaller companies.

The small-cap benchmark outperformed larger indices for the session, reflecting renewed rotation into shares of smaller firms that are more sensitive to domestic economic conditions and interest rate changes. The advance extended a pattern of small-cap resilience seen throughout much of 2026, with the Russell 2000 building on earlier gains driven by expectations of Federal Reserve easing and fiscal support.

Smaller companies have historically thrived in environments of declining borrowing costs and accelerating economic activity. With inflation showing signs of moderation and the central bank signaling potential flexibility, investors appeared to price in improved financing conditions for businesses with higher debt loads or growth-oriented models typical of the Russell 2000 constituents.

The session’s breadth was notably positive, with a majority of components advancing amid gains in financials, industrials, consumer discretionary and technology-related small caps. Regional banks and real estate plays benefited from lower rate expectations, while select industrial and biotech names rode momentum from broader market optimism around innovation and infrastructure spending.

Analysts have pointed to several supportive factors for small caps in the current environment. Lower interest rates reduce the cost of capital for smaller firms, many of which rely more heavily on borrowing than their large-cap counterparts. Additionally, potential fiscal stimulus and domestic-focused policies could disproportionately benefit companies with U.S.-centric revenue streams, a common trait among Russell 2000 members.

The outperformance aligns with longer-term trends observed in 2026. Small caps have shown leadership at various points this year, rebounding from earlier volatility tied to geopolitical events and inflation concerns. Year-to-date gains have highlighted a shift away from mega-cap concentration, with investors seeking value and growth opportunities in the smaller end of the market.

Financial stocks within the index posted solid advances as bond yields eased and lending margins improved. Industrial names benefited from expectations around infrastructure and manufacturing activity, while healthcare and biotechnology components drew interest from clinical developments and merger activity. Technology-oriented small caps also participated, capturing spillover enthusiasm from the AI sector.

Market participants noted improving sentiment around corporate earnings for smaller companies. Many Russell 2000 firms have reported resilient results, with some sectors showing acceleration in revenue and margin expansion. This fundamental support, combined with attractive valuations relative to large caps, has encouraged capital flows into the space.

The Russell 2000’s composition of approximately 2,000 smaller U.S. companies makes it a key barometer for domestic economic health. Unlike the Dow or S&P 500, which are heavily weighted toward mega-cap multinationals, the small-cap index reflects conditions for businesses more exposed to U.S. consumer spending, regional economies and interest rate dynamics.

Looking forward, investors will monitor upcoming economic data, including inflation readings and employment figures, for further clues on the policy outlook. A softer inflation print could reinforce expectations for rate cuts, providing additional tailwinds for small caps. Corporate earnings season continues to offer company-specific catalysts across sectors.

Broader market context includes steady gains in major averages, with the S&P 500 and Nasdaq also advancing on technology strength. However, the Russell 2000’s outperformance highlights a healthy broadening of participation, often viewed as a positive signal for overall market durability.

Risks remain, including potential volatility from geopolitical developments, shifts in trade policy or unexpected economic slowdowns. Small caps tend to be more volatile than large caps, and any resurgence in inflation or delay in monetary easing could pressure the index. Nonetheless, current positioning suggests optimism prevails among investors.

The reconstitution of Russell indices, now on a semi-annual schedule in 2026, has also influenced flows and attention on smaller names. This structural change has increased liquidity events and rebalancing activity, contributing to periodic strength in the segment.

For portfolio managers and retail investors alike, the recent performance of the Russell 2000 serves as a reminder of the diversification benefits of including small caps. While large-cap technology has dominated headlines, smaller companies offer exposure to domestic growth themes and potentially higher long-term returns in favorable cycles.

As the trading day concluded, market breadth remained supportive with advancing stocks leading decliners. Volume was healthy, indicating broad-based conviction. Futures trading suggested cautious optimism heading into the next session, with focus on data releases and corporate updates.

The small-cap rally reflects a maturing bull market narrative where economic resilience and policy support create opportunities beyond mega-cap leaders. Whether this momentum sustains will depend on incoming fundamentals and the Federal Reserve’s communications in the weeks ahead.

Tuesday’s gain reinforces the Russell 2000’s role as a dynamic component of U.S. equity markets. With valuations still appearing reasonable compared to historical averages and large-cap peers in many cases, small caps continue to attract interest from investors seeking both growth and value in the current environment.

San Francisco voters appeared to reject a ballot measure that would have significantly increased taxes on some large companies with highly paid executives, delivering a win for business groups and technology leaders who argued the proposal could hinder the city’s economic recovery.

According to results posted by the San Francisco Department of Elections, Measure D was failing with 53.64% of voters opposed and 46.36% in favor. The measure required a simple majority to pass.

Measure D would have expanded San Francisco’s existing CEO pay ratio tax, which applies to certain large businesses when a top executive earns more than 100 times the median compensation of workers. The proposal would have changed the formula by comparing executive pay with a company’s entire workforce rather than only its San Francisco employees, while also increasing tax rates on affected businesses.

CHATGPT BOOM FUELS A LUXURY HOUSING FRENZY IN BAY AREA

City officials estimated the measure would generate between $250 million and $300 million in annual revenue. Supporters said the proposal would help address income inequality while providing additional funding for city services.

Opponents, including Mayor Daniel Lurie, argued the measure could drive employers away from San Francisco and make the city less competitive as officials work to revive downtown and attract new investment.

The proposal also faced opposition from prominent technology executives, including Google co-founder Sergey Brin, who donated $500,000 to a committee campaigning against the measure.

CALIFORNIA TECH LEADERS CHALLENGE PROGRESSIVE POLICIES AS BILLIONAIRES, BUSINESSES FLEE: REPORT

The outcome adds to a series of election results that suggest San Francisco voters have shifted toward a more centrist approach on economic and governance issues. In recent years, voters recalled former District Attorney Chesa Boudin, removed three school board members and elected Lurie, a moderate Democrat who campaigned on public safety and economic recovery.

The vote comes as San Francisco seeks to capitalize on an artificial intelligence-driven investment boom while continuing to confront concerns about its business climate and the departure of several high-profile companies and entrepreneurs in recent years.

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The defeat of Measure D is likely to be viewed by business advocates as a sign that voters remain focused on economic growth, job creation and efforts to strengthen the city’s competitiveness.

FOX Business’ Eric Revell contributed to this report.